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Economists use the word efficient to mean any of several closely related things: [12] No one can be made better off without making someone else worse off (Pareto efficiency). No more output can be obtained without increasing the amount of inputs. Production proceeds at the lowest possible per-unit cost.
The amount by which spending exceeds revenue over a particular period of time; it is the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual. deflation A decrease in the general price level of goods and services. [111]
A cash flow that shall happen on a future day t N can be transformed into a cash flow of the same value in t 0. This transformation process is known as discounting, and it takes into account the time value of money by adjusting the nominal amount of the cash flow based on the prevailing interest rates at the time.
The English language has a number of words that denote specific or approximate quantities that are themselves not numbers. [1] Along with numerals, and special-purpose words like some, any, much, more, every, and all, they are Quantifiers. Quantifiers are a kind of determiner and occur in many constructions with other determiners, like articles ...
Given that profit is defined as the difference in total revenue and total cost, a firm achieves its maximum profit by operating at the point where the difference between the two is at its greatest. The goal of maximizing profit is also what leads firms to enter markets where economic profit exists, with the main focus being to maximize ...
Cashier balancing [1] or cashing up is the process of a cashier counting the money in a cash register at the end of a business day or working shift. The process is usually conducted in businesses such as grocery stores, restaurants and banks, and makes the cashier responsible for the money in their cash register.
Image credits: lyd_lurn_lose #3. Sounds like my cousin. She married a really decent seeming guy. When they got back from honeymoon, he presented her with a handwritten list of things she must do.
A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.